Reportedly, Crypto Hedge Fund, Adaptive Capital led by leading on-chain analysts, David Puell, Willy Woo, and Murad Mahmudav is closing business. In the letter to their investors, the fund managers note,
We are convinced that the risks of continuing operations in such an unstable environment outweigh the potential benefits.”
They also reported a loss of nearly 50% due to the crash and their subsequent inability to respond due to ‘infrastructural inefficiencies.’ Apart from that it also seems to point at the Coronavirus crisis, the world seems to be facing at large.
The number of affected people has now risen to 276,104 with over 11,400 casualties. Moreover, hopes of early eradication or a cure are also highly uncertain.